I’m hoping by writing this, the crypto market bull leaps into abundance. And yet, the cryptospace developers out there in the crypto world are quite relieved that they don’t have to keep interacting with speculators crying, “When lambo?”, “When moon?”. They can get busy with developing the platforms, increase security and work on scalability issues. We can give them a well-deserved break. A slump is okay.
Why is the crypto market down?
I’ve been trying to guess this all along. Here are some of my pet reasons:
- Hedge and pension funds are waiting for regulation to be put into place before they bring over their billions into crypto. We have been hearing this rumour for a few months now… so, is it close?! Some think that the next parabolic rise will be from institutional money.
- Market manipulation. This has been talked about quite a lot recently. The US government is organizing a probe into this issue. Besides the normal pump and dump schemes, the Mt Gox liquidators dumped thousands onto the market on days you can quite clearly see significant drops with huge volume. I do believe there is class action being organized against their ‘reckless trading’.
- Tether has been linked to some manipulation… or is this FUD?!
- Bitcoin futures can be blamed, maybe…
What to do?!
Read, carry on with your self-education! Get your head into the distributed ledger technology (DLT), understand it, why we are in this space in the first place. Explore new projects that you haven’t heard of. Diversify your portfolio and your exposure to different industries. How about learning a computer language and help with the development?!
Open an account on another exchange. We all know how long verification can take sometimes.
Tell someone about Bitcoin. But don’t focus on the price. Focus on its service to humanity. Explore how this tech can create abundance for everyone, not just the speculators.